3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(inIn thousands, except for par value amounts)
(Unaudited)
February 26, 202225, 2023
May 29, 202128, 2022
Assets
Current assets:
Cash and cash equivalents
$
15,589221,614
$
57,35259,084
Investment securities available-for-sale
81,125423,418
112,158115,429
Trade and other receivables, net
138,654206,920
84,123177,257
Income tax receivable
41,38342,947
42,51642,147
Inventories
240,087290,869
218,375263,316
Prepaid expenses and other current assets
5,8727,599
5,4074,286
522,7101,193,367
519,931661,519
Property, plant &
equipment, net
671,373712,512
589,417
Finance lease right-of-use asset, net
409
525
Operating lease right-of-use asset, net
1,168
1,724677,796
Investments in unconsolidated entities
15,79416,146
54,94115,530
Goodwill
44,006
35,52544,006
Intangible assets, net
18,68616,484
20,34118,131
Other long-term assets
7,8499,968
6,77010,507
Total Assets
$
1,281,9951,992,483
$
1,229,1741,427,489
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses
$
120,665138,617
$
89,191122,331
Current portion of finance lease obligationAccrued income taxes payable
22266,723
21525,687
Current portion of operating lease obligationDividends payable
486107,720
69136,656
121,373313,060
90,097
Long-term finance lease obligation
271
438
Long-term operating lease obligation
682
1,034184,674
Other noncurrent liabilities
10,6739,715
10,41610,274
Deferred income taxes, net
118,753134,820
114,408128,196
Total liabilities
251,752457,595
216,393323,144
Commitments and contingencies - see Note 139
—
—
Stockholders’ equity:
Common stock ($
0.01
Common stock - authorized
120,000
70,261
703
703
Class A convertible common stock - authorized and issued
4,800
48
48
Paid-in capital
66,90970,977
64,04467,989
Retained earnings
992,5231,497,325
975,9771,065,854
Accumulated other comprehensive loss, net of tax
(1,413)(3,067)
(558)(1,596)
Common stock in treasury at cost –
26,12126,075
shares at February
26, 202225, 2023 and
26,20226,121
shares at May 29, 202128, 2022
(28,439)(29,996)
(27,433)(28,447)
Total Cal-Maine Foods,
Inc. stockholders’ equity
1,030,3311,535,990
1,012,7811,104,551
Noncontrolling interest in consolidated entity
(88)(1,102)
0(206)
Total stockholders’
equity
1,030,2431,534,888
1,012,7811,104,345
Total Liabilities and Stockholders’
Equity
$
1,281,9951,992,483
$
1,229,1741,427,489
See Notes to Condensed Consolidated Financial Statements.